pk
Level 15
Level 15

Deductions & credits

@akhilsuri194  Namaste Akhil ji

(a)  which country are your investments in ( Indian stocks or what?)?

(b)  what type of  income -- sale  ( capital or ordinary ), interest, dividend  or what ?

(c) Are you having TDS on this income  or is  this unrealized  income/gain ?

 

Generally , foreign sourced incomes  are treated just like  domestic except that you do not have the  1099s involved/issued.  So you have to use dummy ones ( i.e. you recognize the income as if you had a 1099).

If any taxes were  paid  ( finalized  is better but TDS can work temporarily  with amendment required), this may be eligible for  foreign tax credit ( absent any constraints  by the tax treaty between  US and that foreign source country).

Your own Tax status  ( US person  or NRA  )  also plays into this. 

 

Please answer my questions  and I will circle back.  You can also PM me